
U.S. gasoline prices jumped more than 30 cents per gallon last week and are expected to continue rising while the Strait of Hormuz remains closed amid the Iran war. The report notes U.S. pump prices had been about $3 per gallon before the conflict, and continued disruption to tanker traffic could push prices higher. A prolonged closure would slow any return to pre-war levels and keep upward pressure on household and transportation costs.
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